The Price Stagnation of Bitcoin Cash (BCH) and Key Features to Keep an Eye On

This was a very interesting year for Bitcoin Cash, as its price experienced several ups and downs. The most rapid growth on the chart appeared in June when it reached a peak of $253. However, since then, Bitcoin Cash (BCH) has been struggling to provide reach such heights in recent months.

In this article, we will dive into the main reasons for this behaviour, as well as check the price predictions. You will also read about the most important price levels that you should know about.

What’s the Reason Behind the Big Bitcoin Cash Rise in June?

In July, Bitcoin Cash went from $113 at the beginning of the month to $253 at the end of it. Right on the 1^st of July, this altcoin reached its ultimate peak of the year, getting a value of $305.

Now, the reason for this sudden increase in the price was connected with all the FUDs that were created by the SEC. This occurred after Gary Gensler noted that a large list of cryptos were securities.

However, Bitcoin Cash was listed on the EDX exchange, which signalised it as non-security. This resulted in the creation of a pump, yet after Ripple managed to win its court case against the SEC, Bitcoin Cash’s price dropped once again.

This happened because the reason behind the pump was no longer relevant. It’s due to the fact that XRP and some other cryptocurrencies were once again not considered securities.

The Future Value of Bitcoin Cash

Bitcoin Cash failed to gain a positive value since Bitcoin managed to surpass the $35,000 mark, which is unlike other altcoins. With that in mind, its price went from the August low of $186 to a current price of $224. As you can read, it had rejected the $250 price point that last appeared in June.

If this cryptocurrency surpasses this crucial checkpoint then it will be a bullish sign for the coin. Some analysts and BCH maxis indicate that there was a consolidation period as well as whales making profits. They also believe that Bitcoin Cash will rise once again from this point.

PricePrediction predicts that the BCH value will range between $250.50 and $268.77 this year. So, once again we have the $250 point, from where the price can rise even further. In 2024, the price prediction states a minimum value of $367.52 and a peak of up to $433.96.

The price predictions on this website generate potential values for the next 10 years. According to the data it provides, Bitcoin Cash will generate a stable rise in its price. Now, we should mention that such analyses are somewhat accurate in the short term, but hardly accurate in the longer period.

Either way, the software indicates that in 2025, Bitcoin Cash will feature an average value of $532.79. In the more distant future, in 2032, the price of this crypto coin could reach an average value of $7,792. Now, be aware that the high volatility tends to change this analysis rather often.